Iran conflict risks Strait of Hormuz standstill and sparks talk of $100-a-barrel oil

Iran, however, “understands that sealing Hormuz is the economic equivalent of pulling the fire alarm in a crowded theatre and locking the exits for Middle East oil exports,” said Stephen Innes, managing partner at SPI Asset Management. “It would hit not only Western consumers but also China and regional buyers. It is a blunt instrument.”Several news reports Saturday indicated that passage through the Strait of Hormuz had been curtailed. An official from the European Union’s naval mission Aspides told Reuter ...